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China’s key stock market getting hit hard

By   || June 29, 2010 at 05:56 GMT
|| 9 comments || Add comment

China’s Shanghai stock index has been getting hit hard today. One of the reasons apparently is investors are withdrawing funds from the market so they can subscribe to Agricultural Bank of China’s IPO.  Institutions will start subscribing this coming Thursday, while retail subscribes early next week.

The fall in the Shanghai index has helped pressure the EUR/JPY cross which is presently down at 108.80.

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9 Responses to “China’s key stock market getting hit hard”

  1. Trading Nymph on June 29th, 2010 06:00 GMT

    Gerry..fwiw…China’s Take of the Sell Off tonight http://www.shanghaidaily.com/sp/article/2010/201006/20100629/article_441446.htm

  2. Gerry Davies on June 29th, 2010 06:04 GMT

    cheers TN, sounds like its a few factors coming together, thks

  3. ecotrade on June 29th, 2010 06:15 GMT

    key factor is Yuan appreciation huritng export at a time Europe crisis is far from over.

  4. puks on June 29th, 2010 06:20 GMT

    G’day Gerry,

    Do you see this news will be cable bearish? Do you know of any sell stop orders in cable, if I may ask?

    thanks

  5. Trading Nymph on June 29th, 2010 06:24 GMT

    Gerry, Lots of stuff coming together…totally wild to watch tonight.

  6. Gerry Davies on June 29th, 2010 06:26 GMT

    Hi Puks, last i heard stops though 1.5000 but that was yesterday. would be surprised if that had changed. I cant say i,m seeing anything specifically cable bearish. obviously there has been a general pick up in risk aversion (mainly surrounding china/shanghai share index sell-off) and that’s caused cable to slip a little this morning.

  7. puks on June 29th, 2010 06:26 GMT

    what other stuff is coming together TN?

  8. Trading Nymph on June 29th, 2010 06:42 GMT

    Puks…A lot…thank you for my insipration for my article tonight…I will post link here after I write it.

  9. Trading Nymph on June 29th, 2010 08:49 GMT

    For you Puks, would do more but getting sleepy..http://ibankcoin.com/king_of_the_pg/2010/06/29/come-together/

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